Keybank National Association OH Lowers Position in MetLife, Inc. (MET)
Keybank National Association OH lowered its position in MetLife, Inc. (NYSE:MET) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,241 shares of the financial services provider’s stock after selling 139,632 shares during the period. Keybank National Association OH’s holdings in MetLife were worth $27,546,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its holdings in shares of MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after acquiring an additional 1,529,570 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock worth $195,348,000 after acquiring an additional 175,311 shares during the period. PGGM Investments grew its holdings in shares of MetLife by 2.3% in the 3rd quarter. PGGM Investments now owns 576,944 shares of the financial services provider’s stock worth $29,972,000 after acquiring an additional 12,978 shares during the period. KBC Group NV grew its holdings in shares of MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock worth $69,433,000 after acquiring an additional 157,734 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock worth $43,460,000 after acquiring an additional 55,508 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.
Shares of MetLife, Inc. (MET) traded down $0.30 during trading on Tuesday, hitting $54.33. The stock had a trading volume of 2,776,620 shares, compared to its average volume of 4,030,000. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $57,580.00, a P/E ratio of 10.51, a PEG ratio of 1.41 and a beta of 1.51. MetLife, Inc. has a 12 month low of $42.26 and a 12 month high of $55.91.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. sell-side analysts expect that MetLife, Inc. will post 4.31 earnings per share for the current year.
MetLife declared that its board has initiated a stock buyback program on Wednesday, November 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, November 3rd. MetLife’s dividend payout ratio is presently 347.83%.
A number of research firms recently issued reports on MET. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $56.00 target price on shares of MetLife in a research note on Wednesday, September 6th. UBS AG reaffirmed a “neutral” rating and issued a $49.00 target price (down previously from $57.00) on shares of MetLife in a research note on Friday, September 1st. ValuEngine lowered MetLife from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 26th. J P Morgan Chase & Co began coverage on MetLife in a research note on Monday, July 24th. They issued a “hold” rating and a $78.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $59.00 target price on shares of MetLife in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. MetLife presently has an average rating of “Buy” and an average target price of $58.29.
MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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